Mutual of America Capital Management LLC Trims Stock Holdings in RB Global, Inc. $RBA

Mutual of America Capital Management LLC cut its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,716 shares of the business services provider’s stock after selling 6,380 shares during the period. Mutual of America Capital Management LLC’s holdings in RB Global were worth $9,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RBA. AQR Capital Management LLC raised its holdings in shares of RB Global by 94.3% in the first quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock valued at $1,031,000 after buying an additional 5,090 shares during the last quarter. NewEdge Advisors LLC lifted its position in RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after acquiring an additional 204 shares during the period. Jones Financial Companies Lllp lifted its position in RB Global by 857.9% during the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after acquiring an additional 3,346 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after purchasing an additional 88,813 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in shares of RB Global in the first quarter valued at approximately $4,103,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In other RB Global news, Director Deborah Stein bought 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the acquisition, the director owned 1,000 shares of the company’s stock, valued at $101,260. The trade was a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. The trade was a 16.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.28% of the company’s stock.

RB Global Trading Up 1.2%

Shares of RBA opened at $116.96 on Tuesday. RB Global, Inc. has a twelve month low of $86.68 and a twelve month high of $119.58. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $21.74 billion, a P/E ratio of 55.96, a PEG ratio of 2.17 and a beta of 0.57. The firm’s 50-day moving average is $104.52 and its two-hundred day moving average is $107.35.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.83 by $0.10. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.71 EPS. On average, research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global’s dividend payout ratio is 59.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Raymond James Financial increased their price target on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Bank of America cut their price objective on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, November 7th. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a research note on Monday, November 24th. National Bankshares cut their price target on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Finally, Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average price target of $124.13.

RB Global Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.